Deutsche Bank Joins Singapore's Asset Tokenization Project

Hi NoRamp Community,

Daily News:

1) Animoca Brands Japan & Quidd to Release ‘FAIRY TAIL’ Digital Collectibles

2) ShapeShift Founder Is Pivoting to a Privacy-Centric AI Startup

3) Deutsche Bank Joins Singapore's Asset Tokenization Project

4) Mexican BNPL Fintech Aplazo Bags $70M in Equity Financing

5) Vanguard Secures $1M to Revolutionize Maritime Insurance Underwriting

Animoca Brands Japan & Quidd to Release Digital Collectibles:

• Animoca Brands Japan and its subsidiary Quidd are set to launch digital collectibles featuring 29 characters from the popular manga "FAIRY TAIL" on May 24, 2024. The collection, including key scenes turned into art cards, will be available on the Quidd platform starting from 5 p.m. EST, under the guidance of FAIRY TAIL author Hiro Mashima.

• Animoca Brands Japan, established in 2021, focuses on leveraging Japanese intellectual property for global web3 strategies, supporting various entities including publishers and sports teams. Quidd, also a subsidiary of Animoca Brands, operates a digital collectible and NFT marketplace with past collaborations featuring major brands like Disney and the NBA.

• Additionally, Animoca Brands is advancing its web3 integration by planning the launch of a new NFT platform this summer to bridge Japanese web3 projects with the global market. This platform will offer support for sales strategies and marketing, targeting a diverse group of content creators and intellectual property holders.

ShapeShift Founder Is Pivoting to a Privacy-Centric AI Startup:

• Erik Voorhees, founder of cryptocurrency exchange ShapeShift, announced the launch of Venice AI, a privacy-focused generative AI chatbot. This new venture, revealed at the public launch on Friday, is designed to offer a more secure alternative to AI services provided by large tech companies, which Voorhees criticizes for their close government ties and privacy concerns.

• Venice AI emphasizes user privacy by not storing user data or viewing conversations. User inputs are sent through an encrypted proxy server to a decentralized GPU that processes the AI model, ensuring that the data remains disconnected from user identities and other conversations. This model is a response to the typical centralized data storage practices that link and retain user data indefinitely.

• The platform offers both a standard and a Pro account (priced at $49 annually), with features like higher message limits, the ability to modify prompts, and the removal of watermarks. Notably, Venice AI supports integration with the Morpheus Network, providing incentives for Morpheus token holders. Despite its emphasis on decentralization, Voorhees mentioned future plans to accept digital currencies for subscriptions, enhancing the platform's appeal to crypto-savvy users.

  

  Source: Cointelegraph

Deutsche Bank Joins Singapore's Asset Tokenization Project:

• Deutsche Bank has partnered with the Monetary Authority of Singapore (MAS) on Project Guardian, a collaborative effort focusing on asset tokenization and decentralized finance (DeFi) applications within wholesale funding markets. As part of this initiative, Deutsche Bank will explore an open architecture and interoperable blockchain platform for servicing tokenized and digital funds.

• The bank's collaboration involves testing protocols and identifying the best industry practices, led by Boon-Hiong Chan, Deutsche’s Asia Pacific head of securities and technology. This includes working with Memento Blockchain, aiming to enhance digital fund management and investment servicing through the DAMA 2 project, which will leverage the Axelar network developed by Interop Labs.

• Project Guardian, launched by Singapore's MAS in 2022, involves multiple global financial regulators and aims to drive innovation in asset tokenization, underlining the critical need for secure blockchain interoperability to unlock the sector's potential. This project aligns with broader industry movements, including Ripple's efforts to enhance interoperability and tokenize real-world assets on the XRP Ledger through Axelar.

Mexican BNPL Fintech Aplazo Bags $70M in Equity Financing:

• Aplazo, a buy now, pay later (BNPL) fintech based in Mexico, has secured $70 million in equity financing in a round led by US venture capital firm QED Investors. This financing round includes a $45 million Series B funding and contributions from new investor Volpe Capital, as well as returning investors Picus Capital, Oak HC/FT, and Kaszek.

• The company plans to use the new funds to double down on product development, focusing on integrating AI to better understand consumer and merchant needs and to enhance decision-making related to risk. Aplazo aims to leverage this technology to support its growth and service improvement.

• Since its launch in 2020, Aplazo has raised over $100 million in equity financing and $75 million in committed debt funding. The company, headquartered in Mexico City, provides payment solutions and merchant tools designed to boost financial inclusion and help Mexican businesses grow, noting that 70% of its users do not have other credit products registered on bureau records.

Vanguard Secures $1M Revolutionize Maritime Insurance Underwriting:

• Maritime technology startup Vanguard has raised $1 million in seed funding to advance their automated insurance underwriting platform specifically designed for maritime operations. Investors include Hafnia, Motion Ventures, Portline, and KGJG, reflecting strong industry confidence in Vanguard's vision.

• Vanguard's platform automates various processes in the insurance underwriting process, from broker introductions to final decisions by underwriters, aimed at streamlining interactions among underwriters, brokers, and shipping clients. The platform also addresses the discrepancy between advancements in vessel safety technologies and static insurance premiums, by adjusting premiums to more accurately reflect reduced risks.

• Alongside the successful funding round, Vanguard has established a strategic partnership with Gallagher, a global leader in insurance brokerage and risk management. This collaboration will allow Gallagher’s marine clients to leverage Vanguard’s platform to better manage risk exposures and ensure fair insurance premium payments. The platform's latest iteration focuses on customizing insurance cases to specific vessel risks and has already demonstrated success in significantly reducing war insurance premiums for a shipping operator.

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